China declares interest in filling Nigeria’s oil and gas void

by Damilola Jagun

The Consul-General of the Consulate General of People’s Republic of China, Mr Liu Kan, said his country is interested in Nigeria’s oil and gas industry. Speaking in Lagos, Liu said that China will depend on Nigeria to satisfy the demand of her increasing population for crude oil and gas.

“China is the most populous nation in the world and her demand for oil and gas is increasing by the day. Nigeria is the largest oil producer in Africa and ranks the 11th largest in the world,” Liu said.

“China will, therefore, continue to value her good relations with Nigeria in areas of oil and Gas. We see a great potential in our cooperation with Nigeria in areas of oil and gas in the future,” he added.

Liu said that China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec) and China National Offshore Oil Corp (CNOOC) were already doing well in Nigeria’s oil sector.

The consul-general also added that many Chinese oil companies had indicated an interest in Nigeria’s oil and gas industry, while also expressing optimism that the cooperation between both countries would continue to be on a win-win basis.

Speaking further, Liu enjoined the Nigeria Government to create an enabling environment, which will foster cooperation between the two countries.

China’s declaration of its interest in Nigeria’s oil and gas sector is timely, following the recent announcement by ‘Royal Dutch Shell that it has sold four oil fields it owns in Nigeria, as part of its global assets sale, in a bid to cut costs.

In 2013, Shell sold its 30 percent shares in four oil blocks in the Niger Delta ‘Oil Mining Licence (OML) 18, 24, 25, 29, and another major pipeline, the Nembe Creek Trunk Line.

Major oil companies like, Eni, Total, and Chevron, are also reported to be in the process of selling their assets in Nigeria, which gives China elbow room to operate in the country

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